Tenet Healthcare Corporation $THC Stock Holdings Lifted by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue increased its holdings in Tenet Healthcare by 60.0%, owning 35,424 shares valued at approximately $6.23 million after purchasing additional shares during the quarter.
• Insider trading activity includes a sale of 3,952 shares by Director Christopher S. Lynch and 78,762 shares by CEO Saumya Sutaria, decreasing their holdings by 24.23% and 17.60%, respectively.
• Analysts have varied ratings on Tenet Healthcare, with recent price target adjustments leading to an average price target of $196.81 and several analysts categorizing the stock as a "Moderate Buy."

State of Alaska Department of Revenue raised its position in Tenet Healthcare Corporation (NYSE:THC - Free Report) by 60.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,424 shares of the company's stock after purchasing an additional 13,285 shares during the quarter. State of Alaska Department of Revenue's holdings in Tenet Healthcare were worth $6,234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of THC. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Tenet Healthcare in the first quarter worth about $212,000. Envestnet Asset Management Inc. lifted its position in shares of Tenet Healthcare by 3.3% in the first quarter. Envestnet Asset Management Inc. now owns 203,582 shares of the company's stock worth $27,382,000 after buying an additional 6,424 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Tenet Healthcare by 65.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,420 shares of the company's stock worth $189,000 after buying an additional 562 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Tenet Healthcare by 34.0% in the first quarter. Royal Bank of Canada now owns 119,349 shares of the company's stock worth $16,052,000 after buying an additional 30,281 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Tenet Healthcare by 28.1% in the first quarter. GAMMA Investing LLC now owns 1,430 shares of the company's stock worth $192,000 after buying an additional 314 shares during the last quarter. Hedge funds and other institutional investors own 95.44% of the company's stock.

Insider Activity

In other news, Director Christopher S. Lynch sold 3,952 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $176.39, for a total value of $697,093.28. Following the sale, the director directly owned 12,358 shares in the company, valued at approximately $2,179,827.62. This represents a 24.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Saumya Sutaria sold 78,762 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $190.78, for a total value of $15,026,214.36. Following the completion of the sale, the chief executive officer owned 368,683 shares in the company, valued at approximately $70,337,342.74. This represents a 17.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,722 shares of company stock worth $17,161,015. Company insiders own 0.81% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on THC shares. Wolfe Research cut Tenet Healthcare from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 28th. Morgan Stanley boosted their price objective on Tenet Healthcare from $175.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Wall Street Zen raised Tenet Healthcare from a "hold" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Stephens raised Tenet Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Finally, Bank of America boosted their price objective on Tenet Healthcare from $205.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $196.81.

Tenet Healthcare Trading Up 2.7%

Shares of THC opened at $202.06 on Monday. Tenet Healthcare Corporation has a 12-month low of $109.82 and a 12-month high of $202.15. The company has a quick ratio of 1.63, a current ratio of 1.71 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $17.85 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 0.86 and a beta of 1.55. The stock's 50-day moving average price is $177.41 and its 200 day moving average price is $160.06.

Tenet Healthcare (NYSE:THC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The company reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $1.18. Tenet Healthcare had a return on equity of 24.69% and a net margin of 7.17%.The firm had revenue of $5.27 billion for the quarter, compared to analyst estimates of $5.16 billion. During the same period in the previous year, the company posted $2.31 earnings per share. The company's quarterly revenue was up 3.2% compared to the same quarter last year. Tenet Healthcare has set its FY 2025 guidance at 15.550-16.210 EPS. As a group, research analysts predict that Tenet Healthcare Corporation will post 12.24 earnings per share for the current year.

About Tenet Healthcare

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

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